Binance holds my 37 ETH ($50,000 USD) for nearly one year….


Cryptocoins Exchanges / Binance 33 Views

Binance holds my 37 ETH ($50,000 USD) for nearly one year….

I deposited 37 ETH to Binance almost one yr in the past, and it has been in limbo since then.

TL:dr - On account of a bug with the Metamask interface, my deposit was converted from ETH to WETH by means of no fault of my very own. I did, sincerely, “pay attention to the token and and community” when finishing up the deposit on 13 December 2021. From my perspective I did every thing as instructed when doing the transaction. Regardless, Binance has rejected every software due merely to the flawed network, despite that they do the truth is have the potential to carry out the restoration.

I deposited 37 ETH on the Arbitrum to Binance 13 December 2021, 10 months in the past. At the time of this writing, the value is $51353 USD. I carried out the deposit appropriately and in accordance with instructions. By means of no fault of my very own, the ETH ended up caught in the Binance pockets as WETH, which is unsupported. I submitted six recovery purposes which have been rejected, and I’ve just lately submitted a seventh software.

From my perspective, I carried out actions to deposit the right coin (ETH) on the right community (Arbitrum) to the right pockets tackle. $51353 USD is a big sum of money, and lack of these funds could have an opposed impact on my life.

Sequence of Events

On 10 December 2021 at 21:20, I traded the coin DPX for 37 ETH on the Arbitrum community utilizing SushiSwap and withdrew the funds to my Metamask pockets. My intention was to start out shifting my a refund to Binance. A lot I later came upon that unbeknownst to me, and with no immediate or indication, Metamask had “wrapped” the ETH into WETH on account of it being on the Arbitrum community.

Right here is how the contract interaction appeared in my Metamask wallet, labeling the funds as ETH with no indication that Metamask had truly transformed it to WETH:

Right here is the transaction on Arbiscan:

Please observe that the Arbiscan document additionally misleadingly marks the value as ETH fairly than WETH:

Above the Worth is “Tokens Transferred,” which I don’t often discover or understand. Particularly given the truth that I didn’t even know what WETH was at the time, there was no means for me to know what it meant.

Subsequently, after trading on SushiSwap and before depositing to Binance, I was beneath the impression that I had approximately 37 ETH on the Arbitrum community able to go together with no clear indication that it had been wrapped within Metamask to WETH.

On 13 December 2021 at 09:25, I carried out the right process to deposit 37 ETH to my Binance account.

  • I sent only ETH as far as I used to be concerned (unaware that it had been wrapped to WETH with no clear indication)
  • I ensured the community was Arbitum One

Since I had deposited ETH to Binance many occasions before, I felt no have to send a check quantity prior to depositing.

After the transaction, bells began ringing. The cash got here to the suitable Binance wallet, however there was nothing credited to my Binance account. Ultimately, I realised that by some means the transaction was carried out in WETH, which was unsupported at the moment. This was as a result of an unintuitive Metamask interface, and I had never come across something like this earlier than.

Right here is the Arbiscan document of the transaction:

Roughly two hours later, at 11:13, I submitted an software to get well my funds. I completed the appliance correctly, and I held greater than sufficient Bitcoin in my account to cover the processing charge.

On 17 December 2021, the appliance was rejected with the rationale said as “This transaction can't be discovered on the blockchain…” This was although the TxID was perfectly valid. The identical day, I promptly submitted a second software.

On 19 December 2021, the second software was rejected as nicely, this time with the reasoning that “Sadly, this unlisted token cannot be retrieved.” Again, I promptly submitted a brand new software whereas in touch with help.

On August 14 2022, 9 months after submitting the third recovery software, it was rejected as properly. This time the rationale was simply “Refund Failed” together with an admonishment to “pay attention to the token and network for future transactions.

I used to be disenchanted to see that I was not even allowed to submit a restoration software for these funds:

I was later informed that I could not submit a new software for an additional month, since 3 had been previously rejected. Subsequently, I waited one month to submit the subsequent one.

On 14 September 2022, 10 months after the first software, I submitted a followup software together with detailed info on the Metamask bug and the way my ETH had been converted to WETH via no fault of my very own. The very next day, the appliance was rejected once once more:

Discover that they inform me “Please pay attention to the token and network on your next transaction…”

I did, sincerely, “pay attention to the token and and network” when finishing up the deposit on 13 December 2021. From my perspective I did every thing as instructed when doing the transaction.

Given these information, mixed with the numerous worth of $51353 USD, I do consider this case is entitled to special consideration with a purpose to get well the funds, which I do know for a proven fact that Binance is capable of doing.

Any strategies on the best way to resolve? Thanks prematurely!

submitted by /u/rajeeshindia
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